Global demand for hot melt based packaging market was valued at approximately USD 2.1 billion in 2018 and is expected to generate revenue of around USD 3.2 billion by end of 2025, growing at a CAGR of around 6.9% between 2019 and 2025.
The report covers forecast and analysis for the hot melt based packaging market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the hot melt based packaging market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the hot melt based packaging market on a global level.
As per the report, the global demand for hot melt based packaging market was valued at approximately USD 2.1 billion in 2018 and is expected to generate revenue of around USD 3.2 billion by end of 2025, growing at a CAGR of around 6.9% between 2019 and 2025.
The popularity of hot melt adhesives is mainly related to their lower processing and regulatory costs. They also offer the fastest bonding method, and hot melt equipment has lower energy consumption than other bonding processes. Also, hot melt adhesives need less time to set than traditional adhesives and are water resistant as a result hot melt adhesives are extensively used in packaging applications. Hot melt adhesives are more efficient, cost-effective, and environmental friendly adhesive products than solvent based and traditional adhesives.
Most of the industrial and commercial products are sold in packaged conditions for sustainable transport and storage. Increased retail and online shopping have increased the demand for packaged products. This eventually has been a driving factor for hot melt adhesive market. In addition, substantial growth of food and FMCG industry has played important role in the growth of hot melt adhesive market because hot melt adhesive provides excellent packaging solutions and are widely applicable in food and FMCG industry. Moreover, the hot melt adhesive market is anticipated to witness a growth in coming years because packaging industry is looking for more efficient and cheap packaging adhesives for cost reducing measures.
Global hot melt based packaging market is classified into type, raw materials type, and application. By type, the global hot melt based packaging market is segmented into corrugated packaging, case & carton, folding cartons, flexible packaging, and others. By raw material type, global hot melt based packaging market is segmented into polymers, resins, waxes, and others. Polymers are basic constituents of hot melt adhesives. Polymers give flexibility and strength to the hot melt adhesive improving its heat and impact resistance. Polymers account for large share of global hot melt based packaging market. Also, resin accounts for significant proportion of hot melt based packaging market. By application, global hot melt based packaging market is segmented into carton closing, pallet stabilization, sealing, and others. Hot melt adhesives are extensively used in paper, board, and packaging industry, mostly used for carton closing, sealing, and pallet stabilization.
Asia Pacific accounts for largest share in the global hot melt based packaging market as a result of increasing demand for packaged products. Additionally, the growing e-commerce and online purchasing is expected to provide more opportunities for packaged products eventually driving the hot melt based packaging market. Furthermore, North America is anticipated to be a major consumer of hot melt based packaging because of increasing innovations in packaging industry. Additionally, Europe is set to witness significant growth over the forecasted period. Growing demand from food and packaging industry is likely to create further opportunities for hot melt based packaging market to grow in the region. Developing countries in the region such as the Middle East and Africa are probable to witness significant growth in hot melt based packaging because of developments in packaging, construction, and automotive industry. Hot melt based packaging market in Latin America is expected to witness significant growth over the forecasted period. Higher living standards has increased the demand for a broad range of packaged products.
Some of the key players in hot melt based packaging market include 3M Company, Henkel, Beardow & Adams (Adhesives) Ltd., H.B. Fuller, Dow Corning Corporation, and Avery Dennison Corporation.
Global Hot Melt Based Packaging Market: Type Segment Analysis
Global Hot Melt Based Packaging Market: Raw Material Segment Analysis
Global Hot Melt Based Packaging Market: Application Segment Analysis
Global Hot Melt Based Packaging Market: Regional Segment Analysis
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